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1000 Hwan
| Issuer | Bank of Korea |
|---|---|
| Year | 1957-1960 |
| Type | Log in to see details |
| Value | 1000 Hwan |
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| Composition | Log in to see details |
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| Obverse description | At centre, a portrait vignette of Syngman Rhee (1875–1965), first President of the Republic of Korea, rendered in intaglio against a fine guilloche underprint. Denomination numerals and Korean inscriptions occupy the surrounding border, with the issuer name rendered in both Hangul and Hanja. The overall design is framed by an ornate guilloche border with decorative scroll work at each corner. |
|---|---|
| Obverse lettering | Log in to see details |
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| Reverse lettering | THE BANK OF KOREA 천 환 1000 HWAN (Translation: ONE THOUSAND HWAN) |
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| Comments |
The 1000 Hwan was the highest denomination issued under the Hwan monetary system, which South Korea had adopted in February 1953 to replace the Chosun Bank Won at a rate of one Hwan to one hundred Won — a direct response to the hyperinflation that had savaged the economy during the Korean War. By the time this note entered circulation, the Hwan itself was already eroding; inflation never fully stabilized, and the currency was replaced in 1962 when a new Won was introduced at 10 Hwan to 1 Won.
Printed domestically by the Korea Minting and Security Printing Corporation rather than contracted abroad, as many earlier Korean issues had been.